Park Sterling Corporation (PSTB) Receives Average Recommendation of “Hold” from Analysts
Park Sterling Corporation (NASDAQ:PSTB) has been assigned an average rating of “Hold” from the ten analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and nine have assigned a hold recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $9.83.
A number of research analysts recently issued reports on the company. Brean Capital reiterated a “hold” rating on shares of Park Sterling Corporation in a report on Thursday, August 3rd. ValuEngine upgraded Park Sterling Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. BidaskClub upgraded Park Sterling Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Finally, Zacks Investment Research raised Park Sterling Corporation from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Friday, August 18th.
Shares of Park Sterling Corporation (NASDAQ:PSTB) traded down 0.08% on Wednesday, hitting $12.74. 243,472 shares of the stock traded hands. The firm has a market capitalization of $674.00 million, a PE ratio of 24.50 and a beta of 0.84. The firm’s 50 day moving average is $11.60 and its 200 day moving average is $11.77. Park Sterling Corporation has a 52 week low of $7.95 and a 52 week high of $12.84.
Park Sterling Corporation (NASDAQ:PSTB) last issued its quarterly earnings results on Thursday, July 27th. The bank reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The company had revenue of $34.03 million for the quarter, compared to analyst estimates of $33.30 million. Park Sterling Corporation had a return on equity of 8.67% and a net margin of 19.00%. During the same period in the previous year, the company posted $0.12 earnings per share. On average, analysts expect that Park Sterling Corporation will post $0.63 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in shares of Park Sterling Corporation by 1.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,086,710 shares of the bank’s stock valued at $36,670,000 after acquiring an additional 54,562 shares in the last quarter. Mendon Capital Advisors Corp increased its position in shares of Park Sterling Corporation by 41.2% in the first quarter. Mendon Capital Advisors Corp now owns 2,920,738 shares of the bank’s stock valued at $35,955,000 after acquiring an additional 851,837 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Park Sterling Corporation by 2.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,386,320 shares of the bank’s stock valued at $28,350,000 after acquiring an additional 53,186 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Park Sterling Corporation by 7.7% in the second quarter. Vanguard Group Inc. now owns 2,143,632 shares of the bank’s stock valued at $25,466,000 after acquiring an additional 153,266 shares during the last quarter. Finally, RMB Capital Management LLC raised its holdings in Park Sterling Corporation by 45.1% during the first quarter. RMB Capital Management LLC now owns 1,803,494 shares of the bank’s stock worth $22,201,000 after acquiring an additional 560,916 shares in the last quarter. Institutional investors own 82.11% of the company’s stock.
About Park Sterling Corporation
Park Sterling Corporation is a holding company for Park Sterling Bank (the Bank). The Bank is a North Carolina-chartered commercial non-member bank. The Company provides banking services to small and medium-sized businesses, real estate owners, residential builders, institutions, professionals and consumers doing business or residing within its target markets.
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